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AVT

Avnet

$40.50

-0.56 (-1.36%)

08:20
10/04/16
10/04
08:20
10/04/16
08:20

Avnet upgraded to Strong Buy from Market Perform at Raymond James

Raymond James analyst Brian Alexander upgraded Avnet two notches to Strong Buy from Market Perform and established a $52 price target on shares. The analyst said Avnet's recent decision to divest its TS business to Tech Data and acquire Premier Farnell should allow the company to focus entirely on the more attractive EM business, improve operating margins, ROIC and book value, and use enhanced liquidity to drive shareholder value.

AVT Avnet
$40.50

-0.56 (-1.36%)

09/20/16
STFL
09/20/16
UPGRADE
STFL
Buy
Tech Data upgraded on acquisition at Stifel
As noted earlier, Stifel upgraded Tech Data (TECD) to Buy from Hold. Analyst Matthew Sheerin upgraded the stock based on what he sees as "significant accretion opportunities" stemming from the company's acquisition of Avnet's (AVT) Technology Solutions business. He estimates that the deal could be $3-$4 accretive to Tech Data's EPS in the first year, and says that it could produce $11-$12 in earnings after all estimated synergies are realized. Target to $96 from $75.
09/20/16
STFL
09/20/16
DOWNGRADE
STFL
Hold
Avnet downgraded on divestment at Stifel
As noted earlier, Stifel downgraded Avnet (AVT) to Hold from Buy. Analyst Matthew Sheerin says that the sale of the company's Technology Solutions unit to Tech Data (TECD) will lower its EPs by 75c, even after factoring in Avnet's pending acquisition of U.K.-based component distributor Premier-Farnell. The analyst says that the integration of the latter unit will "require some heavy lifting" by Avnet.
09/20/16
CRSS
09/20/16
DOWNGRADE
CRSS
Sell
Avnet downgraded to Sell from Hold at Cross Research
09/20/16
09/20/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ford (F) downgraded to Neutral from Buy at Buckingham with analyst Joseph Amaturo saying he believes North American volume and pricing trends for trucks will deteriorate and is concerned that the passenger car market will remain challenged given stiff competition from Japanese and European OEMs that can heavily discount due to weak currencies. 2. General Mills (GIS) downgraded to Underperform from Neutral at Consumer Edge. 3. Ascena Retail (ASNA) downgraded to Sector Perform from Outperform at RBC Capital and to Perform from Outperform at Oppenheimer. 4. Avnet (AVT) downgraded to Hold from Buy at Stifel and to Sell from Hold at Cross Research. 5. HD Supply (HDS) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying it will take several quarters for the company to address its supply chain errors, and she expects the stock "to stay range bound over the medium term." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CVS

CVS Health

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-1.42 (-1.71%)

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-1.39 (-1.68%)

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WBA

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ESRX

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CAH

Cardinal Health

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ALNY

Alnylam

$75.04

-0.96 (-1.26%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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SWKS

Skyworks

$107.93

0.44 (0.41%)

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Options
Skyworks put volume heavy and directionally bearish »

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  • 05

    Oct

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SPY

SPDR S&P 500 ETF Trust

$249.89

-0.08 (-0.03%)

, SPX

S&P 500

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Technical View: S&P 500 slips below the pivot low »

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SPY

SPDR S&P 500 ETF Trust

$249.89

-0.08 (-0.03%)

SPX

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PZRX

PhaseRx

$0.78

0.055 (7.64%)

14:11
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SNY

Sanofi

$49.34

0.24 (0.49%)

14:10
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Sanofi reports 'potential breakthrough' in preclinical work on HIV antibodies »

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  • 18

    Oct

SPX

S&P 500

14:06
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09/20
14:06
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Fed details plans to being reducing balance sheet »

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VRX

Valeant

$14.06

0.29 (2.11%)

14:05
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Options
Valeant call volume above normal and directionally bullish »

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  • 25

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SPY

SPDR S&P 500 ETF Trust

$249.87

-0.1 (-0.04%)

, SPX

S&P 500

14:04
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14:04
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General news
Federal Reserve maintains median projection for year-end funds rate at 1.4% »

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SPY

SPDR S&P 500 ETF Trust

$249.87

-0.1 (-0.04%)

SPX

S&P 500

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SPX

S&P 500

14:02
09/20/17
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14:02
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General news
Fed says economic activity rising moderately this year »

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SPLK

Splunk

$68.25

-0.24 (-0.35%)

, SYMC

Symantec

$34.16

0.39 (1.15%)

14:02
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09/20
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Periodicals
Breaking Periodicals news story on Splunk, Symantec »

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SPLK

Splunk

$68.25

-0.24 (-0.35%)

SYMC

Symantec

$34.16

0.39 (1.15%)

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  • 22

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SPX

S&P 500

14:01
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Fed plans to initiate balance sheet normalization in October »

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14:01
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RNVA

Rennova Health

$0.22

-0.0021 (-0.93%)

13:55
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  • 20

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MLCO

Melco Resorts & Entertainment

$23.78

0.77 (3.35%)

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Bullish option play opened in Melco Resorts as shares tick to 52-week highs »

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  • 02

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MOH

Molina Healthcare

$62.33

0.21 (0.34%)

, UNH

UnitedHealth

$195.34

0.69 (0.35%)

13:48
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Periodicals
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MOH

Molina Healthcare

$62.33

0.21 (0.34%)

UNH

UnitedHealth

$195.34

0.69 (0.35%)

CNC

Centene

$90.10

0.32 (0.36%)

WCG

WellCare

$166.10

-2.065 (-1.23%)

CI

Cigna

$181.44

-0.07 (-0.04%)

ANTM

Anthem

$181.90

0.46 (0.25%)

HNT

Health Net

HUM

Humana

$238.58

-1.46 (-0.61%)

AET

Aetna

$154.56

-1.48 (-0.95%)

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JCI

Johnson Controls

$40.12

1.075 (2.75%)

13:45
09/20/17
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Options
Johnson Controls call volume above normal and directionally bullish »

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13:45
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